> What should we do with extra money per month?

What should we do with extra money per month?

Posted at: 2015-07-28 
1.Build an emergency fund to live off for at least 6 months

2. Save some of that

3. Seriously invest in a business

First, you should have an emergency fund that you can live off of for six months to a year.

Second, pay off any debts (except mortgage usually)

Third, invest in a retirement plan with Vanguard.

Invest

Save it, preferably somewhere it will earn interest. Credit union is a good place (you get an annual dividend, not interest). By saving regularly there, you are building up a good relationship with them, and if the day comes you need a loan, you are more likely to get it approved quickly because of your positive history with them.

be sure you are funding your 401k at work to get the employer contribution

be sure you are putting money into your Roth IRA or regular IRA annually

be sure you are setting aside money for education expenses

then, be sure you save at elast 10% of your take home pay if possible into blue chip dividend paying stocks

Save your money for emergencies.

Invest it into a retirement plan.

It depends on your circumstances. If you are young invest in property. If you are middle aged invest in your pension.

Buy toys

open a savings account